I think every country is printing like crazy (if they have one) so everything is relative to each other. After all even BTC has some form of inflation (some BTC is generated from mining). However I do agree prices are going up because there is just more supply out there.
In the case of the US, the money is more or less stored in the Fed due to QE so they rely on loans to generate more money but the banks aren't eager to loan. In a way I think the US is in the best situation even if prices are going up because there is a demand for the USD. I do think BTC might be a better hedge if you want to maintain it's store of value.
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Yes they are printing but I disagree with the relativity, it's not some kind of hard peg, so depending on the amount of sovereign debt denominated in dollars and the risk attached to those bonds will require you to devalue even faster.
The US dollar is still the premier currency and people trust it for sure, theyll flock to it and i can see countries may consider swithcing or making the dollar legal tender.If they don't they just have a huge dollar black market, we can see how stable coins are growing due to the demand for off shore dollars
Im not one to play the forex game, I'd rather have the insurance against the entire thing and to me thats BTC